27 Apr 2016
WALTERFANG v WESTPAC NEW ZEALAND LIMITED [2016] NZHC 805
- Citation
- [2016] NZHC 805
- Court
- High Court
Where a mortgagee follows a reasonable sale process that properly tests the market (valuations, experienced agent, advertising, tenders, reassessment and negotiation), acceptance of the highest available offer at the time does not breach s176 even if valuers later opine a higher forced sale value; Westpac discharged its duty and summary judgment was proper.